Exclusive: Info Edge to back ShipGlobal again at 3X higher valuation

Cross-border logistics startup ShipGlobal is set to raise a pre-Series A round from existing investor InfoEdge Ventures. The funding comes nearly two years after its seed round.

The board at ShipGlobal has passed a special resolution to issue 2,143 pre-Series A preference shares at an issue price of Rs 70,000 each to raise Rs 15 crore, according to its regulatory filing with the Registrar of Companies (RoC).

ShipGlobal will deploy the funds towards capital expenditure, marketing, and general corporate purposes, as per the filing.

According to Entrackr’s estimates, the company’s post-money valuation would be around Rs 315 crore ($36 million), representing a 3X increase from its seed round of $3.5 million.

Following the fresh infusion, Info Edge Ventures will hold 23.81% of the company, while its co-founders Aayush Anand, Angad Arora, and Vaibhav Kapur will each command 21.89%, the filings show. 

The round may see participation from new investors and the valuation and shareholding will vary accordingly.

Founded in 2022, ShipGlobal provides cost-effective logistics solutions to Indian SMEs, simplifying cross-border shipping with services such as customs clearance, tracking, and real-time pricing. According to the website of the company, Shipglobal has over 25,000 exporters and has shipped more than 1 crore orders across 220 countries.

The New Delhi-based company is yet to file its annual statements for FY25. During the fiscal year ended March 2024, it recorded a 5X year-on-year increase in its revenue to Rs 40.6 crore, while the losses stood at only 1.37 crore in the same period.